HMRC delays Automatic RTI penalties
In a recent announcement HMRC have confirmed that RTI submission will be delayed another five months for small employers. This change in approach though frustrating for small businesses who have rushed to comply, should give HMRC time to improve their data quality.
The situation is confusing, back in February the revised timetable announced that automatic penalties were due to start from 6 October. That date will still apply for companies that employ 50 or more people, but small companies will have to 6 March 2015, an extra five months before the automated regime starts.
Electronic messages to all employers will be sent shortly to let them know when the penalties will apply to them, based on the number of employees show in the department’s records.
Ruth Owen, HMRC director-general for personal tax, said that RTI is “working well”.
”Our most recent figures show that over 95% of PAYE schemes making payments to individuals are successfully reporting in real time, and 70% say that it is easy to do.”
All IRIS payroll software is RTI compliant and we continue to stay ahead of the legislation by providing auto enrolment solutions to all size businesses. Find out more about our auto enrolment solutions
This concern is something that IRIS shares and we are helping accountants and businesses every day understand sufficiently the existence or implications of workplace pensions.
The campaign also raises concerns over the volume of businesses needing to deal with automatic enrolment. IRIS is well equipped with scalable automatic enrolment solutions but good quality and appropriate advice is likely to come at a premium as the volume of businesses staging increases.
The ‘No-one gets left behind’ campaign highlights the eight things you need to know to be ready for auto enrolment including communications, data management skills, scheme selection and sheer manpower required
The campaign also raises concerns over the volume of businesses needing to deal with automatic enrolment. IRIS is well equipped with scalable automatic enrolment solutions but good quality and appropriate advice is likely to come at a premium as the volume of businesses staging increases.
To find out how IRIS are helping businesses and accountants stage visit iris.co.uk/aeinsight
IRIS are proud to be supporting the ‘No-one gets left behind’ campaign launched by Accounting Web. The campaign has been launched to alert as many accountants as possible to the obligations implied by automatic enrolment.
